$2500 to build "cloud" media conversion server.

Hey guys,
First post and I was hoping for some good feedback.

I have $2500 to spend on a school project and my plan was to go with a “cloud” movie/audio file converter. The machine would host a website where you would upload the file, choose what codecs to convert to, then download the file once the conversion is complete. Any ideas on some specs that fall within $2500?

I know for sure: Multiple core processor, lots of RAM, so-so GPU, 10GB/s network card.
Haha.

All comments and suggestions welcome. Thanks in advance!